New Zealand's Warehouse Group held talks with Woolworths, Foodstuffs

SymonRoss

WELLINGTON (MarketWatch) -- The Warehouse Group Ltd. (WHS.NZ) said Thursday it has had discussions with Woolworths Ltd. (WOW.AU) and Foodstuffs Ltd. in recent months, but has not received any offer from either company.

The New Zealand-based discount retailer said it had held discussions with the companies to clarify their intentions for The Warehouse.

The company was responding to reports in the Australian Financial Review and New Zealand Herald concerning Woolworths' takeover plans.

Woolworths and Foodstuffs both own 10% of The Warehouse and have both applied to the New Zealand Commerce Commission for clearance to make 100% takeover bids for the company. The regulator is due to make a decision on the clearance applications June 8.

The Warehouse said that if the commission clears either or both companies, then one or both companies would be free to make progress on any proposals they may have for acquiring The Warehouse. But The Warehouse said it had not established a timetable for any dealings with either party.

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